Policy Lifecycle
Overview
Section titled “Overview”Every policy in LAMS has three levels of state that together describe exactly where it is in the workflow:
- Status — The high-level state of the policy (e.g., New, In Force, Cancelled)
- Stage — The current workflow step within that status (e.g., Received, Rated, Quote Sent)
- Sub-Stage — A specific condition or pending action (e.g., Referral, More Info, Mid-Term in Progress)
Understanding these three levels helps you find policies quickly using filters and understand what action is needed next.
New Business Lifecycle
Section titled “New Business Lifecycle”Loading diagram...
Status Values
Section titled “Status Values”| Status | What it means |
|---|---|
| NEW | A new application has been submitted and is being processed |
| RENEWAL | A renewal of an existing policy is in progress |
| ACCOUNTING PENDING | Awaiting accounting action (payment or booking) |
| ERP | The policy has ended and an Extended Reporting Period is in effect |
| CANCELLED | The policy was cancelled before its expiration date |
| NON RENEWAL | The policy will not be renewed at expiration |
| POLICY EXPIRED | The policy has passed its expiration date without renewal |
| INACTIVE | The record has been deactivated (e.g., declined applications) |
| ARCHIVED | The record has been archived |
Stage Values
Section titled “Stage Values”| Stage | Meaning | Applies to |
|---|---|---|
| RECEIVED | Application entered and assigned | NEW, RENEWAL |
| RATED | Premium quote generated | NEW, RENEWAL |
| QUOTE SENT | Quote delivered to producer | NEW, RENEWAL |
| BIND ORDER RECEIVED | Producer confirmed binding | NEW, RENEWAL |
| PAYMENT PENDING | Awaiting premium payment | ACCOUNTING PENDING |
| FINANCED | Finance arrangement in place | ACCOUNTING PENDING |
| POLICY ISSUED | Policy has been issued | RENEWAL, NON RENEWAL |
| INFORCE | Policy is active and in force | NEW, RENEWAL, CANCELLED, etc. |
| RENEWAL SOLICITATION SENT | Renewal offer sent to producer | NEW, RENEWAL, NON RENEWAL, POLICY EXPIRED |
Sub-Stage Values
Section titled “Sub-Stage Values”Sub-stages indicate a specific condition that is pending within a broader stage.
| Sub-Stage | What it means |
|---|---|
| REFERRAL | Application is pending senior underwriter review |
| MORE INFO | Additional information has been requested from the producer |
| DECLINE | Application has been declined |
| MID TERM IN PROGRESS | A mid-term endorsement or change is being processed |
| MID TERM PAYMENT PENDING | Additional premium for an endorsement is outstanding |
| POLICY QUEUED | Policy is in the queue for final issuance |
Finding Policies by Lifecycle State
Section titled “Finding Policies by Lifecycle State”Use the Status, Stage, and Sub-Stage filters in the Policy Search smart table to find policies at any point in the lifecycle.
Policies Pending Issuance
Section titled “Policies Pending Issuance”Policies in any of these stages are waiting for a step to be completed before the policy can be issued:
- BIND ORDER RECEIVED — Waiting for payment or OTI completion
- PAYMENT PENDING — Waiting for premium payment
- FINANCED — Waiting for finance agreement confirmation